Let’s say you’ve decided to buy your next car new, and the reliable reputation of our Honda lineup has enticed you. But in weighing that choice, one must consider monthly payments, credit, cost of ownership, and more. While our financing team can crunch the numbers and help you make that choice, deciding whether you want to buy or lease is a good place to start.
What’s the difference, you might ask? They’re fundamentally different, starting with what you’re actually paying for. For a car loan, your monthly payments account for the total MSRP of the vehicle, any additional warranties you buy, and interest. On the other hand, a car lease only leaves you responsible for the residual value the vehicle loses over the agreed period, and gives you a clearer picture of what you’ll pay for maintenance.
Although leases are a great way to drive a car for a lower overall cost, there are some restrictions. Mileage is limited to between 9,000 – 15,000 miles a year, with penalties imposed by the mile if you exceed them. On the flip side, you can also buy your vehicle at the end of the term and enjoy the same pride of ownership if you’d applied for a loan.
Which will work best for you? If you need any further guidance, let the Honda dealership in Temecula, CA help! Contact our showroom at your convenience with any questions on our models, financing, or services.
